Miss. S.R. Mahanthege of the Department of Statistics & Computer Science, University of Kelaniya was the First Runner-up for the Best Research Projects 2016 - Undergraduate Category Awarded by Institute of Applied Statistics, Sri Lanka (IASSL), for the research title 'Modeling and Forecasting OPEC Reference Basket Crude Oil Prices' supervised by Dr.(Mrs.)D.D.M. Jayasundara and Mrs. N.V. Chandrasekara. The Award was presented at the 5th Annual General Meeting of IASSL with the presence of Dr. R.H.S. Samarathunga, Secretary to the Treasury - Ministry of Finance as the chief guest.